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today’s news for Friday, May 22, 2020

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The College Board. College Board stands ready to assist the community as you respond to COVID-19 and deliver aid in new and different ways. Institutional Documentation Service (IDOC) allows families to submit documents via a secure file upload or mail and can be implemented in a few days during this time of displacement.

TRENDING IN FINAID NEWS

NEWS FROM NASFAA

Job loss, unexpected health problems, and natural disasters are all primary factors that student loan borrowers say lead to them not being able to make their payments on time, according to a study released this week by the Pew Charitable Trusts. Pew conducted 16 focus groups in eight cities with more than 150 participants and found that financial insecurity drives borrowers’ repayment behavior, and disruptions in life is the primary cause for falling behind on payments. 

x - COVID-19 ASKREGS

AskRegs

Please see the attachment to the May 15, 2020 Electronic Announcement, which states: "We are aware that requests for a Status Information Letter from the SSS are not currently being considered. Therefore, to resolve a Selective Service C code for applicants who do not pass the database match, we recommend that applicants use the online system at sss.gov to register or to verify prior registration. A financial aid administrator (FAA) may perform this task if he or she chooses or if the applicant cannot complete this task. View the full answer to this question to learn more and search for answers to your other pressing regulatory and compliance questions, in NASFAA's AskRegs Knowledgebase.

AskRegs

No. According to guidance NASFAA has received from the U.S. Department of Education (ED), your institution will not need to reimburse its Federal Perkins Loan Revolving Fund for the lost interest. View the full answer to this question to learn more and search for answers to your other pressing regulatory and compliance questions, in NASFAA's AskRegs Knowledgebase.

NASFAA UPDATES AND ANNOUNCEMENTS

Webinar Logo

This year's events have brought emergency preparedness to the forefront of our attention in all areas of life — including in the financial aid office. How did your school handle shutting down during the COVID-19 pandemic? Were you prepared to go completely digital? Learn how you can get a plan in place to be fully operational from wherever you are, and wherever your students are, during this 60-minute webinar at 1:00 p.m. ET today, sponsored by CampusLogic. These ideas go beyond helping during emergency — they assist in serving the ever-growing population of students who are more comfortable on their computers than anywhere else. Learn how to future-proof your office for success, and register today.

How Do NASFAA Professional Credentials And The Certified Financial Aid Administrator® Designation Compare?

Both programs — NASFAA Professional Credentials and the Certified Financial Aid Administrator® (CFAA) — are excellent professional development opportunities for financial aid administrators. Earning credentials is a great way to build a portfolio of demonstrated knowledge in specialized topics, such as verification and consumer information. Achieving NASFAA's certified FAA designation affirms sufficient general knowledge across multiple subject areas to perform competently in Title IV financial aid administration. Certified FAAs also formally commit to the ethical behavior and continued learning that are hallmarks of this profession. The best part? Credentials can be a pathway to the certification, and a means of maintaining the designation. Read this article with comments from credentialed aid administrators. Let us know if we can help you identify the opportunity that's right for you.

NASFAA members are always moving ahead, whether enhancing their skills in their current roles, accepting promotions or job changes, or discovering new pathways as retirees. Have you changed jobs recently? Are you newly retired? Have you won an award, or started a new initiative on campus? Celebrate your 2019 career developments by completing the "Movers and Shakers" form to share the news with your colleagues. We'll review your submission and then post your update to our Movers and Shakers page for all to see.

U.S. DEPARTMENT OF EDUCATION

As the Department of Education (ED) announced last month, due to the unprecedented disruptions caused by the novel coronavirus disease (COVID-19) emergency, ED canceled several Fundamentals of Federal Student Aid Administration workshops. It has now made the difficult but necessary decision to cancel the remaining in-person workshops for the current cycle (through September 2020), to ensure the health and safety of both participants and trainers.

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